Wednesday, 17 Apr 2024

Zayo attracts interest from Blackstone-Stonepeak group: Bloomberg

(Reuters) – Zayo Group Holdings Inc. (ZAYO.N) has received takeover interest from a group of investors including funds managed by Blackstone Group LP (BX.N) and Stonepeak Partners LP, Bloomberg reported on Sunday, citing people with knowledge of the matter.

Also part of the group that has expressed interest in a take-private deal for Zayo, which operates a fiber network in North America and Europe, are funds managed by KKR & Co. (KKR.N), I Squared Capital, GTCR and Charlesbank Capital Partners, according to the Bloomberg report.

There is no guarantee a deal will be reached and the company is still focused on its plan to split into two parts, Bloomberg reported.

Zayo announced on Nov. 7 plans to separate itself into two publicly traded companies, with one focused on communications infrastructure and the other on enterprise services.

It said at the time shareholders will own shares of both companies.

Zayo’s shares climbed 6.6 percent to $23.67 on Friday.

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